most entrepreneurs agreed:the key to
a successful journey is to manage your downside & the upside will take care
of itself.

before you launch into the unknown, be prepared. develop a plan. familiarize
yourself with accounting, negotiation, strategy, and business law. know
your market cycle. ask yourself questions:

do i have a high tolerance for risk?

do i have access to capital?

do i have my own personal cash reserves to sustain myself?

set your expectations correctly, and have conviction. you will hear a
lot of noes (yes, that’s the plural of no).

now for the hard part. don't over-analyze your plan. figure out
where you want to go. launch. then figure out how to get there.

some things to remember while you are on your journey.

integrity is vital. many entrepreneurs agree your most valuable asset
is your name. be honest with yourself and others. even if you lose
money on a deal, your investors may still stick with you because they know you
are honest, and did everything you could to insure success.

networking is vital. be charitable. people are willing to help
you, and people appreciate your help, too.

don't try to steal deals. focus on making good deals. most
entrepreneurs emphasized not biting off more than you can chew. it's ok
to start out slow. go for singles and doubles. trust your instincts
& do what feels right.

one tip: make money every day, even if it’s under $100.

the above suggestions are only a part of the wisdom shared at the ucla
entrepreneurs conference, which is produced annually by students from the
ucla anderson school of management. the students do an excellent job of
assembling entrepreneurs who are knowledgeable and approachable. it's a
must-do event if you are a new entrepreneur or are considering life as an
entrepreneur.